BitMine Immersion Now Holds Approximately $1 Billion of Ethereum(1) to Advance its Ethereum Treasury Strategy
Company's current total of approximately $1 billion of ETH1 exceeds the initial $250 million PIPE proceeds by over 300%
BitMine's ETH1 holdings exceed 300,000
Company's Ethereum treasury strategy to strengthen broader Ethereum ecosystem
LAS VEGAS, July 17, 2025 /PRNewswire/ -- (NYSE:BMNR) ("BitMine" or the "Company") today announced holdings of ETH and ETH equivalents1 exceeding $1 billion. The Company closed on its initial private placement of $250 million on July 8th in furtherance of its asset light treasury strategy. As of July 17th at 3:45am ET, the company's ETH holdings1 total 300,657 at $3,461.89 per ETH (Bloomberg).
"At BitMine, we have surpassed $1 billion in Ethereum holdings1, just seven days after closing on the initial $250 million private placement," said Thomas "Tom" Lee of Fundstrat, Chairman of BitMine's Board of Directors. "We are well on our way to achieving our goal of acquiring and staking 5% of the overall ETH supply."
The Company previously stated its performance metric goal of increasing ETH held per share through a combination of reinvestment of the Company's cash flows, capital markets activities (including using volatility to lower cost of capital), and staking yield and the value of ETH is impacted by the change in value of ETH.
"Acquiring $1 billion of ETH1 is a clear signal of our conviction in Ethereum's long-term value," said Jonathan Bates, CEO of BitMine. "We are committed to Ethereum's continued growth and look forward to advancing our Ethereum treasury strategy."
About BitMine
BitMine is a Bitcoin and Ethereum Network Company with a focus on the accumulation of Crypto for long term investment, whether acquired by our Bitcoin mining operations or from the proceeds of capital raising transactions. Company business lines include Bitcoin Mining, synthetic Bitcoin mining through involvement in Bitcoin mining, hashrate as a financial product, offering advisory and mining services to companies interested in earning Bitcoin denominated revenues, and general Bitcoin advisory to public companies. BitMine's operations are located in low-cost energy regions in Trinidad; Pecos, Texas; and Silverton, Texas.
Forward Looking Statements
This press release contains statements that constitute "forward-looking statements." The statements in this press release that are not purely historical are forward-looking statements which involve risks and uncertainties. This document specifically contains forward-looking statements regarding progress and achievement of the Company's goals regarding ETH acquisition and staking, the long-term value of Ethereum, continued growth and advancement of the Company's Ethereum treasury strategy and the applicable benefits to the Company. In evaluating these forward-looking statements, you should consider various factors, including BitMine's ability to keep pace with new technology and changing market needs; BitMine's ability to finance its current business, Ethereum treasury operations and proposed future business; the competitive environment of BitMine's business; and the future value of Bitcoin and Ethereum. Actual future performance outcomes and results may differ materially from those expressed in forward-looking statements. Forward-looking statements are subject to numerous conditions, many of which are beyond BitMine's control, including those set forth in the Risk Factors section of BitMine's Form 10-K filed with the Securities and Exchange Commission (the "SEC") on April 3, 2025, as well as all other SEC filings, as amended or updated from time to time. Copies of BitMine's filings with the SEC are available on the SEC's website at www.sec.gov. BitMine undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
1. 60,000 ETH, representing approximately $200MM notional value of Ethereum, are held through in-the-money options. This amount is backed 1:1 with approximately $200MM of unencumbered cash.
View original content to download multimedia:https://www.prnewswire.com/news-releases/bitmine-immersion-now-holds-approximately-1-billion-of-ethereum1-to-advance-its-ethereum-treasury-strategy-302507907.html
SOURCE BitMine Immersion Technologies, Inc.